Heritage Global (NASDAQ:HGBL) Shares Down 1.6% - Time to Sell?

Key Points

• Heritage Global Inc. (NASDAQ:HGBL) shares decreased by 1.6%, closing at $1.58 after trading as low as $1.57, with a high trading volume of over 306,000 shares.
• Analysts have mixed views on the stock, with ratings ranging from strong-buy to hold, and an average target price set at $4.00.
• The company's quarterly earnings met expectations with an EPS of $0.05 and revenues of $14.30 million, exceeding analysts' forecasts.

Heritage Global Inc. (NASDAQ:HGBL - Get Free Report) was down 1.6% on Tuesday . The stock traded as low as $1.57 and last traded at $1.58. Approximately 306,796 shares traded hands during trading, an increase of 170% from the average daily volume of 113,530 shares. The stock had previously closed at $1.60.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on HGBL shares. Zacks Research raised shares of Heritage Global to a "hold" rating in a report on Thursday, September 4th. Weiss Ratings reissued a "hold (c-)" rating on shares of Heritage Global in a research note on Saturday, September 27th. Finally, Singular Research raised shares of Heritage Global to a "strong-buy" rating in a research note on Tuesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $4.00.

Heritage Global Trading Down 1.6%

The stock has a market capitalization of $54.72 million, a P/E ratio of 15.75 and a beta of 0.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.05 and a quick ratio of 1.69. The business's 50 day simple moving average is $1.88 and its 200-day simple moving average is $2.04.

Heritage Global (NASDAQ:HGBL - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.05 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.05. Heritage Global had a net margin of 7.33% and a return on equity of 5.47%. The firm had revenue of $14.30 million for the quarter, compared to analysts' expectations of $12.38 million.

Institutional Investors Weigh In On Heritage Global

Hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new stake in Heritage Global in the first quarter worth $56,000. Ridgewood Investments LLC raised its holdings in Heritage Global by 6.9% in the first quarter. Ridgewood Investments LLC now owns 241,165 shares of the company's stock worth $526,000 after purchasing an additional 15,588 shares during the period. Ancora Advisors LLC raised its holdings in Heritage Global by 1.2% in the first quarter. Ancora Advisors LLC now owns 514,269 shares of the company's stock worth $1,121,000 after purchasing an additional 6,000 shares during the period. Militia Capital Partners LP raised its holdings in Heritage Global by 6.6% in the first quarter. Militia Capital Partners LP now owns 584,478 shares of the company's stock worth $1,274,000 after purchasing an additional 36,000 shares during the period. Finally, Evergreen Capital Management LLC acquired a new stake in Heritage Global in the second quarter worth $26,000. 33.46% of the stock is currently owned by institutional investors and hedge funds.

Heritage Global Company Profile

Heritage Global Inc, together with its subsidiaries, operates as an asset services company with focus on financial and industrial asset transactions. The company operates in three segments: Auction and Liquidation, Refurbishment & Resale, and Brokerage. It provides a suite of market making, acquisitions, refurbishment, dispositions, valuations, and secured lending services.

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